No. When you apply with iLending, your initial inquiry does not impact your credit score. Only if you decide to move forward with a loan offer will a formal credit check occur, and even then, it typically results in only a minor, temporary dip. Our clients often notice that over time, refinance loans help improve their credit score, as they can keep up with not just their monthly payment, but also all their other monthly expenses.

On average, our clients save $148 per month by refinancing their auto loans. The savings that you experience through car refinance loans will depend on your current interest rate, loan balance, and credit profile, but many drivers are surprised by how much they can free up each month after lowering their monthly payment. A car loan can be a burden on your monthly income, especially if the loan has unfavorable interest rates. At iLending, we understand that often those loans are entered into out of necessity…not choice. That’s why we work with a wide network of lenders to help you find a better option, an auto loan that aligns with your current financial goals. Whether your credit has improved, interest rates have dropped, or you’re simply looking to cut costs, car refinancing with iLending gives you the options you deserve.

Refinancing through iLending offers several key advantages over going directly for an auto refinance through your bank or credit union:

• Access to More Lenders: iLending works with a network of over 50 trusted lenders, giving you access to a broader range of loan options and competitive rates that most banks can’t offer on their own.
• Potential for Greater Savings: Because we compare multiple offers, we can often find lower interest rates or better terms than what a single bank might provide, helping you save more each month.
• Faster, Easier Process: Our streamlined, online application takes just minutes, and our loan consultants handle the paperwork and communication for you. That means less back-and-forth and a smoother experience overall.
• Personalized Support: Instead of being just another account number, you’ll work with a dedicated loan consultant who helps you understand your options and guides you every step of the way.
• No Impact to Your Credit Score: Checking your refinance options with iLending doesn’t affect your credit score, so there’s no risk in seeing what you qualify for.

While your bank may offer refinancing, ILending’s lender network, experience, and customer-focused process often make it a more flexible and savings-driven option. We may not have free lollipops in the lobby, but the savings we offer will more than make up for it.

In some cases, yes. If the value of your car is less than the remaining loan balance, our refinance team will work with you to explore your options. It may depend on lender requirements, but we’ll guide you through the next best steps. Refinancing could be the solution you need to get your monthly payments back on track. If you’re eligible to refinance a loan that’s fallen behind, it can help lower your payments, reduce financial strain, and even protect your credit score in the process.

At iLending, we go beyond just standard car loans. We help clients refinance a wide range of vehicles, including:

• Cars and trucks – From compact sedans to full-size pickups, we can help you refinance your daily driver and potentially lower your monthly payment.
• Motorcycles – Ride more and worry less with refinancing options designed to ease the cost of owning your bike.
• RVs and campers – Whether you travel full-time or hit the road on weekends, refinancing your recreational vehicle can make your adventures more affordable.
• Boats and watercraft – Set sail without financial stress. We work with lenders who offer refinancing for boats of all types, from fishing boats to pontoons and beyond.
• ATVs and powersport vehicles – Off-road fun doesn’t have to come with a high monthly cost. We can help reduce your payments on ATVs, UTVs, and other recreational vehicles.

No matter what you drive or ride, we’ll explore options to improve your auto loan terms, reduce your interest rate, and help you save. If it’s got wheels or an engine, chances are we can help you refinance it.

With iLending, most clients complete their auto loan refinance in just a few days. We’ve designed the process to be as smooth and hassle-free as possible, with no piles of paperwork, no complicated steps. Our team manages the details for you, so you can focus on the savings. The initial application takes just a few minutes to complete, and once submitted, our auto loan consultants get to work right away, matching you with the best offers from our network of trusted lenders.

Curious if it’s worth your time? Use our car loan savings calculator to get a quick estimate of how much you could save. For many clients, those few minutes lead to savings of hundreds, or even thousands of dollars, over the life of the auto loan.

Your interest rate directly impacts your monthly payment and how much you’ll pay over the life of the auto loan. A lower interest rate means lower monthly costs and greater overall savings during the life of the auto loan. If your credit score has improved or interest rates have dropped since you got your original auto loan, refinancing could help you secure a better rate and keep more money in your pocket each month.